Fundraising FoxLexington Partners
Private equityNew York · Growth · 3 people tracked
Also known as LEXINGTON ADVISORS LLC
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Investment thesis
Lexington Partners operates across three private equity investment strategies: secondaries, co-investments, and primary fund commitments. It helped pioneer the institutional secondary market in 1990 and launched one of the first discretionary co-investment programs in 1998, acquiring private equity and alternative interests. Its Co-Investment Partners arm builds diversified portfolios alongside global sponsors, while its primary program commits to funds across regions and sectors. The firm emphasizes a consistent, time-tested market approach, deep team tenure, and responsible investment practices. As a global firm with over 1,300 investors from more than 50 countries and 950 sponsor relationships, it seeks to encourage adoption of responsible investment principles.
Source: firm website, verified Sep 29, 2026.
Team · 3 people
from the firm's website & curated
What they invest in
from 3 of 3 portfolio companiesEnterprise Software ×2Advanced Manufacturing ×1AI & Machine Learning ×1Cleantech ×1Consumer ×1Crypto & Web3 ×1Developer Tools ×1Fintech ×1
HQs:United States×2
Investments · 3 tracked
founders shown can be your intro path
Fueled is a digital services and strategy firm that builds scalable websites, publishing platforms, product experiences, and AI-powered solutions for ambitious brands and institutions.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaS
Justin Livesay(Chief Executive Officer)in
Co-investorsInsignia Capital GroupArcher Venture CapitalFoundryProgress VenturesStructural Capital
Vessco Water distributes water treatment equipment and services to municipal and industrial customers across the United States.
Advanced ManufacturingCleantechEnterprise SoftwareHardware
Brian DeWolf(Chief Executive Officer and Board Director)in
Co-investorsGryphonMidwest Mezzanine Funds
Wellspring is a consumer app that converts users' bank deposits into stablecoins and deploys them into DeFi lending protocols to earn yield of up to 12% APY as an alternative to traditional savings.
ConsumerCrypto & Web3FintechNewport Beach, US
Co-investorsTechstarsHamilton LaneNeuberger Berman
Fund performance · per public LP disclosures · 52
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Lexington Co-Investment Partners VI-F, L.P.LPs: Florida State Board of Administration | 2025 | — | — | 1.16x | 0.00x |
| Lexington Co-Investment Partners VILPs: Minnesota State Board of Investment | 2023 | — | 17.7% | 1.07x | 0.00x |
| Lexington Capital Partners XLPs: Florida State Board of Administration, Minnesota State Board of Investment, New York City Employees' Retirement System +4 more | 2022 | — | 17.4% | 1.30x | 0.14x |
| Lexington Capital Partners X Co-InvestLPs: New York City Employees' Retirement System, New York City Police Pension Fund, New York City Board of Education Retirement System +1 more | 2022 | — | 21.6% | 1.34x | 0.00x |
| Lexington Capital Partners X Co-Invest XLPs: New York City Fire Department Pension Fund | 2022 | — | 19.4% | 1.34x | 0.09x |
| Lexington Co-Investment Partners V OverageLPs: Minnesota State Board of Investment, Maryland State Retirement and Pension System | 2021 | — | 10.8% | 1.39x | 0.18x |
| Lexington Co-Investment Partners V-F LPLPs: Florida State Board of Administration | 2021 | — | 16.2% | 1.46x | 0.17x |
| Lexington CIP V-F-O LPLPs: Florida State Board of Administration | 2020 | — | 16.4% | 1.48x | 0.22x |
| Lexington Co-Investment Partners VLPs: Florida State Board of Administration, Minnesota State Board of Investment, Maryland State Retirement and Pension System | 2020 | — | 13.3% | 1.44x | 0.21x |
| Lexington Capital Partners IXLPs: Florida State Board of Administration, Minnesota State Board of Investment, New York City Employees' Retirement System +3 more | 2019 | — | 14.4% | 1.54x | 0.54x |
| Lexington Capital Partners IX Lexington IX Co-InvestLPs: New York City Fire Department Pension Fund | 2019 | — | 23.8% | — | — |
| Lexington IX Co-InvestLPs: New York City Employees' Retirement System, New York City Police Pension Fund, New York City Fire Department Pension Fund +1 more | 2019 | — | 20.7% | 1.62x | 0.62x |
| (Lexington) Co-Investment Partners 2005 LP (Pool IV)LPs: Florida State Board of Administration | 2017 | — | 15.9% | 1.90x | 1.05x |
| Lexington Co-Investment Partners IVLPs: Minnesota State Board of Investment, Maryland State Retirement and Pension System | 2017 | — | 14.8% | 1.88x | 1.06x |
| (Lexington) LCP FSBA Co-Invest Account LPLPs: Florida State Board of Administration | 2016 | — | 18.1% | 1.76x | 0.81x |
| Lexington Middle Market Investors IVLPs: Minnesota State Board of Investment, West Yorkshire Pension Fund, Maryland State Retirement and Pension System | 2016 | — | 12.9% | 1.54x | 0.62x |
| Lexington Capital Partners VIII LPLPs: Florida State Board of Administration, Teachers' Retirement System of the City of New York, Minnesota State Board of Investment +5 more | 2015 | — | 13.8% | 1.65x | 1.27x |
| Lexington Capital Partners VIIILPs: Teachers' Retirement System of the City of New York, New York City Employees' Retirement System, New York City Police Pension Fund | 2014 | — | 14.1% | 1.65x | 1.19x |
| Lexington Middle Market Investors III LPLPs: North Carolina Retirement Systems, Florida State Board of Administration, West Yorkshire Pension Fund +1 more | 2013 | — | — | 1.79x | 1.43x |
| (Lexington) Co-Investment Partners 2005 LP (Pool III)LPs: Florida State Board of Administration | 2012 | — | 15.4% | 1.91x | 1.68x |
| Lexington Co-Investment Partners 2005 Pool IVLPs: Florida State Board of Administration | 2012 | — | 25.3% | 1.84x | 0.47x |
| Lexington Partners Investment Holdings, L.P.LPs: Florida State Board of Administration | 2012 | — | 27.8% | 8.70x | 0.05x |
| Lexington Capital Partners VII (Offshore)LPs: San Bernardino County Employees Retirement Association, West Yorkshire Pension Fund | 2010 | — | — | 1.61x | 1.59x |
| Lexington Capital Partners VII LPLPs: Florida State Board of Administration, Minnesota State Board of Investment, New York City Employees' Retirement System +3 more | 2009 | — | 14.1% | 1.65x | 1.63x |
| Lexington VIILPs: Teachers' Retirement System of Oklahoma | 2009 | — | 13.5% | 1.64x | 1.62x |
| Lexington Co-Investment Partners 2005 (Pools I & II), L.P.LPs: Florida State Board of Administration | 2008 | — | 5.4% | 1.46x | 1.37x |
| Lexington Middle Market Investors II, L.P.LPs: North Carolina Retirement Systems, San Bernardino County Employees Retirement Association, West Yorkshire Pension Fund | 2008 | — | — | 1.82x | 1.80x |
| (Lexington) Co-Investment Partners 2005 LP (Pools & II)LPs: Florida State Board of Administration | 2005 | — | 5.3% | 1.45x | 1.43x |
| (Lexington) Co-Investment Partners 2005 LP (Pools I & II)LPs: Florida State Board of Administration | 2005 | — | 5.2% | 1.44x | 1.43x |
| Lexington Capital Partners VILPs: Florida State Board of Administration, Pennsylvania Public School Employees' Retirement System, Santa Barbara County Employees' Retirement System | 2005 | — | 6.9% | 1.40x | 1.39x |
| Lexington Capital Partners VI-B LPLPs: Florida State Board of Administration, Minnesota State Board of Investment, San Bernardino County Employees Retirement Association +2 more | 2005 | — | 6.9% | 1.39x | 1.39x |
| Lexington Middle Market Investors I, L.P.LPs: San Bernardino County Employees Retirement Association | 2005 | — | 11.4% | — | 1.64x |
| Lexington Partners IILPs: South Carolina Retirement System Investment Commission | 2005 | — | 13.3% | — | — |
| Lexington Partners VIILPs: South Carolina Retirement System Investment Commission | 2005 | — | 3.5% | — | — |
| Lexington VILPs: Teachers' Retirement System of Oklahoma | 2005 | — | — | 1.40x | 1.39x |
| Lexington Middle Market Investors, L.P.LPs: North Carolina Retirement Systems | 2004 | — | 11.4% | 1.64x | 1.63x |
| Lexington Co-Investment Partners 2005 (Pool III), L.P.LPs: Florida State Board of Administration | 2003 | — | 17.8% | 2.05x | 1.53x |
| (Lexington) Co-Investment Partners LP (Pools III & IV)LPs: Florida State Board of Administration | 2002 | — | 23.4% | 2.18x | 2.18x |
| Lexington Capital Partners V, L.P.LPs: Florida State Board of Administration, Empire State Development – New York Ventures, Pennsylvania Public School Employees' Retirement System +1 more | 2001 | — | 18.2% | 1.68x | 1.67x |
| Lexington Co-Investment Partners II (Pools III & IV), L.P.LPs: Florida State Board of Administration | 2001 | — | 23.4% | 2.18x | 2.17x |
| Lexington Capital Partners IV LPLPs: Florida State Board of Administration | 2000 | — | 20.2% | 1.78x | 1.78x |
| Lexington Capital Partners II, L.P.LPs: Connecticut Retirement Plans and Trust Funds | 1998 | — | 8.2% | 1.30x | 1.30x |
| Lexington Capital Partners III, LPLPs: Empire State Development – New York Ventures | 1998 | — | — | 1.26x | 1.26x |
| Lexington Co-Investment Partners (Pools & II)LPs: Florida State Board of Administration | 1998 | — | 6.3% | 1.35x | 1.35x |
| Lexington Co-Investment Partners (Pools I & II)LPs: Florida State Board of Administration | 1998 | — | 6.3% | 1.35x | 1.35x |
| Lexington Co Invest IVLPs: West Yorkshire Pension Fund | — | — | — | 1.81x | 1.01x |
| Lexington Co-Investment Partners IIILPs: West Yorkshire Pension Fund | — | — | — | 1.86x | 1.66x |
| LEXINGTON IXLPs: New York City Board of Education Retirement System | — | — | — | 1.40x | — |
| Mid Mrkt ILPs: San Bernardino County Employees Retirement Association | — | — | 1.4% | — | — |
| Mid Mrkt IILPs: San Bernardino County Employees Retirement Association | — | — | 15.1% | — | — |
| Prt VILPs: San Bernardino County Employees Retirement Association | — | — | 3.5% | — | — |
| Prt VIILPs: San Bernardino County Employees Retirement Association | — | — | 11.6% | — | — |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does Lexington Partners invest at?
- Lexington Partners invests at the Growth stage.
- What sectors does Lexington Partners focus on?
- Lexington Partners focuses on Sector Agnostic.
- Where is Lexington Partners located?
- Lexington Partners is headquartered in New York, US.
- Does Lexington Partners lead rounds?
- Lexington Partners typically participates in rounds rather than leading them.
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